What Payment System Should I Choose for My Online Shop?

As an online shop or e-commerce website, one of the very many important initial decisions you will need to make is what payment system, also referred to as a ‘payment processor’, you should use to accept payments from your customers. There are many such systems out there from which to choose. Here are two top payment processing services you may want to check out in your search:

PayPal

PayPal was founded in 1998 and is easily the top choice for many as their online payments solution. PayPal offers consumers the option to also pay by credit card without having to establish a PayPal account. In early July, 2002, eBay acquired PayPal and eventually required all of its sellers to use PayPal as their preferred payment method. This action, unpopular with many eBay sellers, essentially guaranteed PayPal’s status as top online payments processor.

Stripe

Stripe, which allows both individuals and companies accept online payments, burst onto the scene in September, 2011. The service has been steadily gaining in popularity as an eBay alternative ever since. Stripe’s fees, especially in light of the double fees sellers have to endure with eBay in the form of listing fees and required payment processor fees.